Total Members: 159,389

pubudug

  • pubudug replied to the topic renting out my parents house in the forum Legal & Accounting 15 years, 9 months ago

    Thanks for the replies guys,If my dad was going to help, he would just give me the money upfront for the deposit and other charges and I will have to get into an agreement with him to pay it off in installments ( from the rent I earn from the property).  In this case, would this payment to my dad be considered as a cost of the investment as well?…[Read more]

  • pubudug replied to the topic renting out my parents house in the forum Legal & Accounting 15 years, 10 months ago

    Hey,I'm thinking of getting my dad to join me in this venture. He would provide the cash to get me on 80% LVR so I don't get hit with LMI (which is a lot for this property) and I service the loan.  This way we can split the rent someway. This brings on another question, whats the rent value I put in my tax return? My proportion or the entire…[Read more]

  • pubudug replied to the topic renting out my parents house in the forum Legal & Accounting 15 years, 10 months ago

    Thanks for the info PI freely,I should add some more details to the situation.The new house my mom bought (where we all currently live)  was bought with a bridging loan where she put the house I am interested in on equity.  So she is currently paying interest off the mortgage, thus she wants to do this asap too ( the bridging loan was taken out f…[Read more]

pubudug

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